Dave Nimick Chicago Real Estate Podcast Dave Nimick

Proper pricing and presentation will be crucial to your success when you list in a shifting market, and today we’ll explain why. Want to sell your home? Get a FREE home value report Want to buy a home? Search all homes for sale Pricing and presentation are important in any market, but even more so in one that is changing—especially when buyers have more choices, feel a decreased sense of urgency, and, quite frankly, are just pickier.  Effectively pricing your home will be essential to making your listing stand out from others on the market. Great presentation will also be key in making yours a property that buyers can’t afford to skip over. Sellers must put their best foot forward in order to make potential buyers feel great about their home. ” When it comes time to list, your home should be well staged and in great condition, should appeal to all five senses, and should also appeal to a buyer’s emotions. Sellers must put their best foot forward in order to make potential buyers feel great about their home.  If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Do you know how to interpret market conditions? Today, we will teach you how to do so by illuminating some basic, yet important, facts and terms. Want to sell your home? Get a FREE home value report Want to buy a home? Search all homes for sale The most common question people ask Realtors is, “How’s the market?” The answer to this question, however, is more complex than many might think.  There are a few basic facts buyers, sellers, homeowners, and investors must understand in order to properly interpret the market. Here are six of the most significant:  1. The market is dependent on supply and demand.  2. The speed of the market impacts (and is impacted by) other real estate conditions.  3. The market relies on the cost of borrowing money (i.e. interest rates).  4. The market relies on the ease with which lenders are willing to loan out money.  5. The market is influenced by a number of specific positive and negative forces.  6. The market relies on location, location, location.  With these points in mind, those seeking to interpret the market will also need to grasp certain industry-specific terms and phrases. Allow us to define a few of the most critical:  Seller’s market: A market in which demand is greater than supply, giving sellers the advantage. Buyer’s market: A market in which supply is greater than demand, giving buyers the advantage.  Balanced market: A market in which supply and demand are relatively equal, meaning neither buyers nor sellers have a distinct advantage.  While each of these terms gives us a general idea of who might benefit from a given type of market, there are also specific scenarios which give buyers and sellers even greater power. A seller who is downsizing while in a seller’s market, for example, will enjoy great gains from listing their more expensive property before going on to purchase a more modest one.  Sellers who wish to move up, on the other hand, will be better off doing so during a buyer’s market. First-time buyers, as well as investors, will also be at a strong advantage during a buyer’s market.  Each market is named according to which group of people will most benefit from it’s conditions. Ironically, buyers’ motivations tend to run conversely to market trends. This happens because it is during seller’s markets, not buyer’s markets, when the media begins to up-play the appeal of making a home purchase. Real estate conditions are perpetually shifting, so knowing how to interpret the market will be essential to your success whatever your goals may be. ” Ultimately, buyers define the market regardless of whether they currently are in an advantageous position.  The real estate market changes often. Sometimes these changes are dramatic, and sometimes they are subtle. In either case, real estate conditions are perpetually shifting, so knowing how to interpret the market will be essential to your success whatever your goals may be.  If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from us soon.

If you’re about to make your first home purchase, following these 10 steps will set you up for a successful deal. Want to sell your home? Get a FREE home value report Want to buy a home? Search all homes for sale If you’re about to purchase your first home, there are 10 important steps you should follow to ensure your success.  1. Check things out online. This is often the very first thing new homebuyers will do when they begin their search.  2. Start saving for your down payment. While a typical down payment will range between 10% and 25%, there are currently financing options available that allow buyers to put down much less.  3. Check your credit. This can be done through a major credit bureau or online using a service such as Credit Karma. 4. Decide on a Realtor. It’s important to work with someone who has been referred to you by a person you know and trust.  5. Determine what type of home you want. 6. Consider the pros and cons of different neighborhoods. Having amenities, schools, or family nearby may help inform your decision on whether to purchase a certain home.  7. Decide on a lender. Mortgage brokers will typically be better-suited to help you find a more personalized financing option than a lender at a traditional bank.  Everyone wants a nice home, but it’s important to not overspend. ” 8. Know your future employment plans. Do not change jobs during your home search, as this could jeopardize your financing.  9. Decide on your budget. Everyone wants a nice home, but it’s important to not overspend.  10. Visit open houses. This can be a great way to see what you like and dislike about various homes without the pressure of a formal showing.  If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

There are many reasons to invest in real estate, but today I’ll share the top six. Want to sell your home? Get a FREE home value report Want to buy a home? Search all homes for sale Here are the six reasons you should consider investing in real estate: 1. Leverage. Leverage is a wonderful gift that real estate can give you. It’s the ability to borrow other people’s money to build your own wealth. You can buy and control something you didn’t pay full price for in cash up front. 2. Tax benefits. Investing in real estate can reduce taxable income by depreciating assets over time and writing off deductions. Unlike most other investments, there are some tax protections from the increase in value (i.e., appreciation). You can also defer taxes by doing a 1031 exchange and selling one investment property in order to purchase another.  3. It’s a hedge against inflation. Many other investments, meanwhile, are often less stable. 4. Diversification. There are several worthwhile areas to consider investing in (stocks, bonds, metals, etc.), but make sure you don’t miss out on what’s available in real estate.  5. Flexibility. Real estate is one vehicle that can serve many purposes. The first is income. Depending on the investment and how much you put down, you may see immediate positive cash flow from it. The second is long-term appreciation. Over the course of time, real estate tends to increase in value. The third option is a forced equity plan, which accelerates what you’d pay down on your mortgage balance and create more equity in your home. You can then borrow against the equity you have if you want to purchase another property and start the cycle all over again.  Real estate is one vehicle that can serve many purposes. ” 6. You have more control. The property itself is tangible—you can oversee it, inspect it, make improvements to it, and financially benefit from it. As we know, you need three things in order to survive: food, clothes, and shelter (in this case, real estate). As with any investment, you’ll want to speak with an expert before making a decision. We at the Nimick Team take this duty seriously, and we treat our clients’ money as if it were our own.  If you have any questions about investing in real estate, please feel free to give us a call or send us an email. We’d love to help you.

Today I am sharing five reasons that the fall is a great time to sell your home. Want to sell your home? Get a FREE home value report Want to buy a home? Search all homes for sale What are the benefits of selling in the fall? Today I am going to share five of these with you. 1. Buyers are often more serious in the fall. During the spring and summer, many buyers are more curious than committed. Fall buyers, meanwhile, are more serious and can suffer from having too many homes to choose from which makes them feel like they can be pickier and extend their search. This is because many have been searching throughout the summer and still have yet to find the perfect home. Fall buyers are forced to look for a home because of a new job, relocation, or because they need to before the holidays. 2. There is less competition. It is no secret that there are more homes listed in the spring and summer and that more buyers are looking at that time as well. However, with the larger number of homes to compete with, sellers in the spring and summer do not have a clear advantage. Also, the homes that are not sold by the end of the summer are often delisted by the unrealistic sellers who wanted to test the market. This is why, if you list in the fall, you can have the benefit of standing out as well as facing less competition than during the “hotter seasons.” The most important thing to remember is it only takes one buyer to buy your home. 3. It is easier to move up. If you are looking to buy a new home as well as sell your current home, then fall offers the best opportunity. You will enter the market with higher confidence and lower stress while sellers who were unsuccessful during the summer months will remain on the market desperate to sell. This will help negotiations work in your favor.  The most important thing to remember is it only takes one buyer to buy your home. ” 4. Different buyer demographics. While married couples and families often move early, millennials and those with kids who moved to college oftentimes wait until the fall. Employers also tend to wait until the fall to do their corporate relocations. Meanwhile, some buyers that do have the flexibility choose to wait to avoid the busy spring and summer markets. 5. You still have time to make those improvements. You will have time to finish all the little things you want to do before listing in the fall. While you may be concerned that you have missed your chance, the truth is that now is a great time to sell. As long as you're positioned well for the market, you may see a very positive response from what are often motivated buyers. If you have any questions about this or are interested in buying or selling, please feel free to contact me. I look forward to speaking with you soon.

What does it take to time the Chicago market? Here’s what I think. Want to sell your home? Get a FREE home value report Want to buy a home? Search all homes for sale The reason so many people want to time the market is to get the best possible deal. The challenge with timing the market right now is that interest rates have been trending upwards. Even though they have been quite low for a while, the economy is stronger and the Fed has said they want to raise rates. Because of this, you should assume rates are going up, not down.  “ If rates dip, that dip won’t last long. ” If you wait for rates to go down, you’ll probably just end up costing yourself more money as a buyer when they inevitably increase. If rates do dip, that dip won’t last. As a seller, waiting will affect your available pool of buyers. Deciding to wait could cost you substantial dollars out of your pocket. Will you think that you missed out on a 4.5% rate when the rates are up near 6.5%? Of course you will. If you’re interested in locking in a low rate now, give me a call or send me an email. I’m happy to answer any questions you may have.